Retirement planFidelty.com, an online financial company, recently published a report that shows the expected fall in retirement income. According to their survey, the average US citizen will experience an income deficit of 28% in retirement.
To be specific, the baby boomers will earn $2,100 less than their current expenditure, while their successors (the generation X of the 60s), will also need to struggle to earn an additional $1,700 to meet their estimated needs.
Read:Reasons Why You Keep Losing Money Investing
Still, things are not that bad. Generating enough income to cover these estimated shortfalls is not an impossible feat. However, in order to accomplish this, you need to act fast.
The following are some practical tips that you can use to improve your retirement prospects.
No, we are not suggesting you to get a home equity loan, or a lifetime mortgage for your retirement. We are telling you to the exact opposite. Think about it, will you need the sameRead More »from Retirement Planning-5 Tips to Deal with the Expected Fall in Retirement Income